The Central Government has approved the appointment of former Reserve Bank of India Governor Urjit Patel as Executive Director in the International Monetary Fund (IMF). His tenure will be for a period of three years. He will replace KV Subramanian. KV Subramanian's services were terminated by the government six months before his three-year term. This termination will be effective from April 30, 2025.
The order said, 'The Appointments Committee of the Cabinet has approved the appointment of economist and former RBI Governor Urjit Patel to the post of Executive Director (ED) in the IMF. This appointment will be for a period of three years from the date of assuming office or until further orders, as stated in a government order issued on August 28, 2025.'
The Executive Board of the IMF is composed of 25 directors (Executive Directors or EDs) elected on behalf of member countries or groups of countries. India is part of a four-nation constituency, whose members are Bangladesh, Sri Lanka, and Bhutan. Prior to this appointment, Urjit Patel was working as Vice President of Investment Operations (Region 1) at the Asian Infrastructure Investment Bank (AIIB). According to this Beijing-based multilateral financing institution, he resigned from his post in January 2024 due to family health reasons.
Became RBI Governor in 2016, resigned in 2018
Urjit Patel took over as the 24th Governor of the RBI after Raghuram Rajan in 2016. In December 2018, he suddenly resigned from his post amid a dispute with the government over the issue of dividend transfer to the government by the central bank.
Also worked as Deputy Governor
Before assuming the post of RBI Governor, Urjit Patel worked as Deputy Governor. He took charge of departments like Monetary Policy, Economic Policy Research, Statistics and Information Management, Deposit Insurance, Communication, and Right to Information.
Urjit Patel, born in 1963
Born in 1963, Urjit Patel also worked as an advisor to the Ministry of Finance from 1998 to 2001. He also held several assignments in the public and private sectors, including Reliance Industries, IDFC Ltd, MCX Ltd, and Gujarat State Petroleum Corporation.
PhD in Economics from Yale University in 1990
Patel graduated in economics from the London School of Economics and obtained an MPhil from Oxford University in 1986. He completed his PhD in economics from Yale University in 1990. He then became part of the IMF. He worked there from 1990 to 1995, covering the desks of the US, India, the Bahamas, and Myanmar.
IND vs WI: For the first time in 148 years... KL Rahul achieved a unique feat, becoming the first cricketer.
Indian opener KL Rahul scored his 11th century in his Test career against the West Indies. He scored his first century on Indian soil after nine years and his second at home. He had to wait 3211 days
Who supported the Maulana in the Bareilly riots? Police have compiled a list of 77 people and will soon arrest them.
Along with the Maulana, 77 other people were involved in instigating the riots. The police have identified all of them. They have also played a key role in instigating the riots. According to the
CBSE New Rules: CBSE has issued a new rule; these students will not get mark sheets, and the school will be responsible
75 percent attendance is mandatory for board examinees in Central Board of Secondary Education (CBSE) schools, but in view of the complaint of low attendance in some schools, the board has clarified
Impact of GST reforms, online shopping will increase by up to 115% during the festive season; a survey revealed this
The impact of the reforms made by the government in GST rates can be seen in the festive shopping. This rosy picture is seen in the report prepared on the basis of more than two lakh responses
PM Modi: PM Modi's post on India's Asia Cup win goes viral, reposted 1.09 lakh times
Prime Minister Narendra Modi's congratulatory message to the Indian cricket team for winning the Asia Cup final against Pakistan has gone viral. PM Modi's tweet has been reposted nearly 109,000 times
Bigg Boss 19: 'Baklava' is just an excuse Is this the reason why Tanya Mittal visits Dubai?
'You can love her, you can hate her, but you can't ignore her...', this is the condition of Tanya Mittal in Salman Khan's show Bigg Boss 19. Tanya Mittal, one of the most talked about contestants of
SIR in UP: The date for the SIR process has been extended in UP. BLOs have the 2003 voter list.
To ensure transparency and ease of district election operations, District Magistrate Santosh Kumar Sharma is continuously in direct contact with voters. The District Magistrate informed that the
Will Jasprit Bumrah play or be rested? Big update ahead of India vs West Indies Test series
Will Jasprit Bumrah play in the Test series against the West Indies? Indian team assistant coach Ryan ten Doeschate broke his silence on the fast bowler's availability for the upcoming two-match
New rules have been implemented in Delhi for pollution control; who has been exempted from the latest restrictions?
Strict rules have been implemented in the national capital from Thursday (December 18) to control the rising air pollution. Vehicles without a valid Pollution Under Control Certificate (PUCC) will now
IND W vs SA W: South Africa halt India's winning streak, Laura Clarke's half-centuries, Richa's hard work goes in vain
South Africa defeated India by three wickets. In a thrilling Women's World Cup match played in Visakhapatnam on Thursday, the Indian women's team, batting first, scored 251 for 10 in 49.5 overs,
